Exclusive: Barclays reviews options for payments business –sources

A view shows signage on a branch of Barclays Bank in London, Britain, March 17, 2023. REUTERS/Peter Nicholls/File Photois studying options for its global payments activities as a part of broader review into how it allocates resources, two people familiar with the matter told Reuters.

Other European banks have moved to monetise their payments assets and strike commercial partnerships with specialist providers as they look to focus on their core strengths. Barclays has already engaged at least one major consultancy firm and may hire others to split assignments, this person said. Barclays' payment activities are split between its UK Barclaycard business and its international Consumer, Card and Payments division, whose revenues grew 35% last year to 4.5 billion pounds on the back of larger U.S. card balances, but the unit posted a 19% drop in pre-tax profit due to higher impairment charges.

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